Angola LNG sells first cargo of LPG
The Angola LNG recently announced the sale of its first shipment of LPG from the ferry terminal at its plant in Soyo, which was built with the aim of creating value from existing natural gas resources in offshore Angola.
The first shipment was sold free on board (FOB) to Sonangol, which is the state-owned Angolan oil and gas, and it was shipped via tanker BW Broker. The advantage of the sale of LPG, propane and butane, and condensates, reverts to the shareholder consortium Angola LNG.
The company Angola LNG Ltd. will collect, process and sell approximately 5.2 million tons of LNG per year, in addition to propane, butane and condensate, from its manufacturing facilities in Soyo, northern Angola , one of factory LNG processing in modern world.
Angola is the second largest oil producer in sub-Saharan Africa. Historically, the associated gas has been flared or re-injected into reservoirs of crude oil, constituting the Angola LNG project a solution so carbon emissions are reduced and will create a new source of clean energy.
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The Angola LNG itself is one of the largest investments ($10 billion) ever undertaken in the Angolan oil and gas industry.
In addition to the infrastructure for the production and shipment of natural gas in manufacturing plants in Soyo, Angola LNG has storage tanks with a capacity of 88,000 m3 of propane, butane and 59,000 m3 of 108,000 m3 of condensate. They have a marine terminal dedicated to shipping such products and a second terminal for loading pressurized butane which will supply the domestic market.
The Angola LNG Limited is a joint venture between Sonangol, Chevron, BP, Total and ENI for utilization of gas associated with oil production, which, after processing, are extracted for marketing natural gas (LNG) and natural gas liquids (NGL ). Its expected lifetime is 30 years.
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.